Bulgarians rule out IRA money link

A BULGARIAN government investigation has concluded the country has no links with an IRA money laundering operation.

Speaking at a news conference in Sofia yesterday, the head of the country's finance intelligence agency said the two-month probe prompted by the discovery of £2.5 million (€3.6m) after raids in Ireland has found no evidence of Bulgarian involvement in laundering cash for the IRA.

The Criminal Assets Bureau and special branch gardaí raided a number of properties in mid-February, including the home of Ted Cunningham in Farran, Cork, where they seized £2.3m in a compost bin.